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Scooters India fiscal Q3 profit falls YOY

Scooters India Ltd said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was 34 Indian paise per share, a decrease of 21.7% from 43 paise per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 28.8 million rupees, a decline of 22.3% from 37.1 million rupees in the prior-year period.

The normalized profit margin dropped to 7.5% from 8.7% in the year-earlier period.

Total revenue decreased 9.5% year over year to 385.3 million rupees from 425.8 million rupees, and total operating expenses fell 11.5% from the prior-year period to 354.4 million rupees from 400.4 million rupees.

Reported net income decreased 22.3% on an annual basis to 46.1 million rupees, or 54 paise per share, from 59.4 million rupees, or 69 paise per share.

As of Jan. 27, US$1 was equivalent to 61.36 Indian rupees.